AI
| Followers | 0 |
| Posts | 148553 |
| Boards Moderated | 7 |
| Alias Born | 03/10/2004 |
Monday, January 04, 2010 8:49:22 AM
Technical Oil Report
* Monday January 4 , 2010 07:18 GMT
Oil
Morning Report
Crude succeeded in continuing to move to the upside, after building a base on the breached resistance level for the symmetrical triangle, previously mentioned, while noticing that a bullish wedge has started to form in the side image; showing pressure on minor support levels for it and therefore makes us expect a bearish correction for today; targeting the touch of support for the main ascending channel at 78.90 before resuming the bullish short term direction that will remain intact if the daily closing is above 78.90 areas.
The trading range for today is among the key support at 78.20 and the key resistance at 82.45.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
http://ecpulse.com/en/dailyreports/technicaloil/2010/01/04/07-18-21/index.htm
George.
Click on "In reply to", for Authors past commentaries.
* Monday January 4 , 2010 07:18 GMT
Oil
Morning Report
Crude succeeded in continuing to move to the upside, after building a base on the breached resistance level for the symmetrical triangle, previously mentioned, while noticing that a bullish wedge has started to form in the side image; showing pressure on minor support levels for it and therefore makes us expect a bearish correction for today; targeting the touch of support for the main ascending channel at 78.90 before resuming the bullish short term direction that will remain intact if the daily closing is above 78.90 areas.
The trading range for today is among the key support at 78.20 and the key resistance at 82.45.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
http://ecpulse.com/en/dailyreports/technicaloil/2010/01/04/07-18-21/index.htm
George.
Click on "In reply to", for Authors past commentaries.
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
